Recent Updates — PUMP
ProPetro Holding Corp. reported third-quarter 2026 results with total revenue increasing 16% to $355 million, driven by higher utilization in its completions business and incremental PROPWR deployments. Net income turned positive at $13 million ($0.09 per diluted share), compared to an $8 million loss in the prior quarter. Adjusted EBITDA rose 33% to $60 million, representing 17% of revenue. The company generated approximately $8 million of Adjusted EBITDA from its PROPWR power generation segment and reported total liquidity of $934 million at quarter-end. ProPetro is a provider of premium completion services to upstream oil and gas companies in the Permian Basin and delivers behind-the-meter power generation solutions through its PROPWR division.
The board of directors appointed Kyle Crowley as an independent director effective October 16, 2026, in connection with an increase in the board size. Mr. Crowley brings over 30 years of experience in the power and energy industry, including more than two decades at Exelon Corporation where he led corporate development and finance. He is designated as an audit committee financial expert and will receive standard non-employee director compensation under the company's existing policy. ProPetro Holding Corp. provides premium completion services to upstream oil and gas companies in North America.
ProPetro Holding Corp.'s subsidiary, ProPetro Energy Solutions (PROPWR), entered into contracts to commit approximately 230 megawatts of power generation capacity to a subsidiary of Targa Resources Corp. This agreement brings PROPWR's total committed capacity to approximately 510 MW and supports Targa’s natural gas processing infrastructure in the Permian Basin, with full deployment expected in early 2028. The contracts allow PROPWR to redeploy previously uncommitted oil and gas power capacity and make additional megawatts available for potential data center deployments starting in 2027. ProPetro Holding Corp. is a provider of premium completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
ProPetro Holding Corp. announced that Celina Davila resigned as Chief Accounting Officer and principal accounting officer, effective October 30, 2026. The resignation was not due to disagreements regarding operations or financial reporting. CFO Caleb Weatherl will serve as interim principal accounting officer without new compensatory arrangements. ProPetro provides hydraulic fracturing and completion services to the oil and natural gas industry.
ProPetro Holding Corp. reported second quarter 2026 results with total revenue of $306 million, a 13% increase from the prior quarter's $271 million. The company posted a net loss of $8 million, or $0.07 per diluted share, compared to a $4 million loss in the first quarter. Adjusted EBITDA rose 23% sequentially to $45 million, representing 15% of revenue. Free cash flow from the completions business was $51 million. The company lowered its full-year 2026 capital expenditure guidance to between $525 million and $595 million, down from the previous range of $540 million to $610 million. ProPetro operates in the oilfield services industry, providing hydraulic fracturing and other completion services to upstream energy companies.